The UK Insolvency Service today published its final evaluation report on the permanent measures under the Corporate Insolvency and Governance Act 2020 namely, restructuring plans, the stand-alone moratorium and restrictions on contractual termination (ipso facto) clauses.
The report based on independent research conducted by the University of Wolverhampton follows an interim report in June (see our Alert). Todays final report concludes that:
- the restructuring plan continues to be seen as a success, satisfying its policy objectives;
- the latest evidence indicates ambiguity regarding the effectiveness of the stand-alone moratorium, highlighting several major areas of concern; and
- the suspension of termination clauses in supply contract…
Read the full article at: https://www.kirkland.com/publications/kirkland-alert/2022/12/uk-restructuring-measures-what-could-work-even-better